Welcome to our dedicated page for Kimco Realty news (Ticker: KIM), a resource for investors and traders seeking the latest updates and insights on Kimco Realty stock.
Kimco Realty Corp. (symbol: KIM) is one of the oldest real estate investment trusts (REITs) in the United States, specializing in the ownership and management of shopping centers. With interests in 523 shopping centers across major markets in the U.S., Kimco controls roughly 77 million square feet of leasable space. The company's portfolio is strategically located in densely populated areas, ensuring high foot traffic and sustained demand for retail spaces.
Kimco Realty focuses on creating value through strategic property acquisitions, proactive leasing efforts, and continuous asset management. The REIT is committed to sustainability, integrating eco-friendly practices across its operations. Recent achievements include significant leasing milestones and renovations that enhance the shopping experience for customers and increase the attractiveness of its properties for tenants.
Financially, Kimco Realty maintains a robust balance sheet, demonstrating resilience and adaptability, even amidst economic fluctuations. The company's strategic partnerships and joint ventures further amplify its market presence and operational efficiency. Kimco's diverse tenant base from various retail sectors, including groceries, fashion, and essential services, provides a stable revenue stream, reducing the risks associated with market volatility.
In addition to its primary business of shopping centers, Kimco Realty is investing in mixed-use development projects that incorporate residential, office, and retail spaces. These projects aim to create vibrant, community-centric environments that cater to the evolving preferences of modern consumers and businesses.
Kimco Realty Corp. (KIM) and Weingarten Realty Investors (WRI) announced stockholder approvals for their merger, with approximately 99.9% of Kimco votes and 99.6% of Weingarten votes in favor. The merger is set to finalize on August 3, 2021, allowing Weingarten shareholders to receive 1.408 shares of Kimco common stock plus $2.20 in cash per share owned, following a special dividend. Post-merger, Kimco's stock will continue trading under the KIM symbol, while Weingarten shares will be suspended from trading on August 4, 2021.
Kimco Realty Corp. (NYSE: KIM) reported its Q2 2021 results with a net income of $110.3 million ($0.25 per diluted share), down from $741.5 million in Q2 2020. Pro-rata portfolio occupancy rose to 93.9%, and same-property NOI increased by 16.7% year-over-year. The company generated a cash pro-rata leasing spread of 9.2% and improved its liquidity to over $2.2 billion. Kimco raised its 2021 guidance for net income to $0.83-$0.87 per share, reflecting confidence in its merger with Weingarten Realty. The merger is anticipated to enhance growth opportunities and shareholder value.
Kimco Realty Corp. (NYSE: KIM) has published its first Green Bond Report, detailing the impact of its inaugural green bond issued in July 2020. The report highlights that out of $493.7 million in net proceeds, $64.2 million was allocated to finance The Witmer, a LEED Silver certified mixed-use tower in Arlington, Virginia. The project is designed to save an estimated 25% in energy costs annually, showcasing Kimco's commitment to sustainability and environmental goals.
Kimco Realty Corp. (NYSE: KIM) released its 2020 Corporate Responsibility Report, showcasing progress in environmental, social, and governance (ESG) initiatives. Highlights include:
- First North American retail real estate owner on the Dow Jones Sustainability World Index.
- Ambitious ESG goals, including net zero by 2050 and 60% diversity in management by 2030.
- Provided $20 million in disaster relief funding through its Tenant Assistance Program.
- Successful green bond issuance increased from $300 million to $500 million.
- Diversity on the Board increased to 50% with the appointment of Henry Moniz.
Kimco Realty Corp. (NYSE: KIM) will release its second quarter 2021 earnings on July 29, 2021, before the market opens. Investors are invited to join the earnings conference call at 8:30 AM ET, which will be available via webcast. Kimco Realty, one of North America's largest owners and operators of grocery-anchored shopping centers, has a portfolio that includes 398 properties and 70 million square feet of gross leasable space. The company is committed to environmental, social, and governance issues and has been publicly traded since 1991.
Kimco Realty Corp. (NYSE: KIM) will participate in Nareit’s REITweek: 2021 Virtual Investor Conference on June 9, 2021 from 8:45 A.M. – 9:15 A.M. ET. The management will present an overview and a Q&A session. Registration is complimentary and can be accessed via the provided link. If unable to attend, audio will be available until June 30, 2021. Kimco, headquartered in Jericho, N.Y., owns interests in 398 U.S. shopping centers and mixed-use assets totaling 70 million square feet, focusing on essential goods and services.
Kimco Realty Corp. (NYSE: KIM) reported a strong first quarter for 2021, with net income rising to $131.6 million ($0.30 per diluted share), compared to $83.7 million ($0.19 per diluted share) in Q1 2020. Highlights included executing 358 leases totaling 2.8 million square feet, a 93.5% occupancy rate, and collecting 94% of base rents. The company ended the quarter with $2.3 billion in liquidity, including $254 million in cash. A strategic merger with Weingarten Realty Investors was also announced, expected to enhance portfolio strength and growth opportunities.
Kimco Realty Corp. (NYSE: KIM) has announced a definitive merger agreement with Weingarten Realty Investors (NYSE: WRI). This merger aims to create a prominent retail real estate platform with a pro forma equity market capitalization of about $12 billion and total enterprise value of $20.5 billion. Each Weingarten share will convert to 1.408 Kimco shares plus $2.89 in cash, totaling approximately $30.32 per share. The combined entity will manage 559 grocery-anchored centers across the U.S., enhancing scale and growth potential. The transaction is set to close in the second half of 2021, pending shareholder approval.
Kimco Realty Corp. (NYSE: KIM) and Weingarten Realty Investors (NYSE: WRI) have announced a definitive merger agreement that will unite their real estate platforms, creating a leading open-air shopping center owner in the U.S. Weingarten shareholders will receive 1.408 shares of Kimco plus $2.89 in cash per share, totaling about $30.32. The combined entity will have a pro forma equity market capitalization of $12 billion and a total enterprise value of approximately $20.5 billion. This merger enhances market presence, tenant diversity, and financial strength, with expected annual synergies of $35-$38 million.
Kimco Realty Corp. (NYSE: KIM) will announce its first quarter 2021 earnings on April 29, 2021, before market open. Investors can listen to the earnings conference call at 8:30 AM ET via a live webcast. As of December 31, 2020, Kimco owned interests in 400 U.S. shopping centers and mixed-use assets, totaling 70 million square feet. The company has been operating for over 60 years and is included in the S&P 500 Index.
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